An increase by 9% for the Russian MTPL insurers in 1H/2010
Russian insurance companies have increased by 8.8% written premiums on the MTPL segment for 1H/2010 to EUR 1.1 billion, according to Motor Union of Russian Insurers (RSA) cited by insur-today.ru.
Companies have sold 17.774 million policies in the mention period (17.125 million in H1/2009), while the average policy cost rose by almost 5 percent and amounted EUR 62.3. In the first half of the 2010 insurers have paid EUR 648 million in claims for 1.107 insurance claims against EUR 578 million and 936 thousand cases in the same period of the last year. The average payment totalized EUR 584 against EUR 617 a year earlier.
Insurance companies have reported in the first half more than 1.139 million insurance claims on MTPL segment.
According to Motor Union of Russian Insurers (RSA), 16 insurers may leave the MTPL market by the end o the year. In 2009, 17 companies left motor insurance segment.
